HomeNewsKPMG Canada bullish on crypto; adds Bitcoin, Ether to balance sheet

KPMG Canada bullish on crypto; adds Bitcoin, Ether to balance sheet

- Advertisement -


One of the ‘Big Four’ accounting firms, KPMG is the latest company to hop in on the crypto express. KPMG’s Canadian arm announced Monday that it has allocated cryptocurrencies Bitcoin and Ethereum to its corporate treasury, making it the accounting firm’s first direct investment in the burgeoning sector.

The firm availed the execution and custody services of Gemini Trust Company to process the transaction. In addition, KPMG Canada has also purchased carbon offset credits to compensate for the emissions and maintain a “net-zero carbon transaction”.

Per the announcement, KPMG Canada has set up a governance committee to administer and approve the treasury allocation. Meanwhile, the company is yet to disclose the sum of crypto assets added to its treasury.

With the latest move, the accounting firm indicated that its newfound interest in crypto assets will continue to grow in the future. Kareem Sadek, Advisory Partner of Crypto assets and Blockchain Services at KPMG in Canada, said in a statement:

“We’ve invested in a strong cryptoassets practice and we will continue to enhance and build on our capabilities across Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs) and the Metaverse, to name a few. We expect to see a lot of growth in these areas in the years to come.”

Business intelligence firm MicroStrategy was the first to hold crypto assets in its balance sheet, followed by several other industry participants, including Tesla, Galaxy Digital, Square, and Voyager Digital.



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,580FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,973.00
ethereum
Ethereum (ETH) $ 3,103.34
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 335.06
litecoin
Litecoin (LTC) $ 136.24
eos
EOS (EOS) $ 2.62
okb
OKB (OKB) $ 22.52
tezos
Tezos (XTZ) $ 4.07
leo-token
LEO Token (LEO) $ 4.88
cardano
Cardano (ADA) $ 1.19
monero
Monero (XMR) $ 182.53
stellar
Stellar (XLM) $ 0.23946
chainlink
Chainlink (LINK) $ 18.23
huobi-token
Huobi Token (HT) $ 9.98
tron
TRON (TRX) $ 0.068278
usd-coin
USD Coin (USDC) $ 1.00
dash
Dash (DASH) $ 112.43
neo
NEO (NEO) $ 22.54
iota
IOTA (MIOTA) $ 0.955313
nem
NEM (XEM) $ 0.114529
zcash
Zcash (ZEC) $ 128.31
maker
Maker (MKR) $ 2,230.92
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 31.38
vechain
VeChain (VET) $ 0.064746
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 46.60
kucoin-shares
KuCoin Token (KCS) $ 20.40
waves
Waves (WAVES) $ 10.47